Woodies CCI trading system
- Thread starter kkeskar92
- Start date
See the 5 min chart of BHEL here.
Static woodies shows ZLR that did not go very far and adaptive CCI ahows a well formed ghost pattern that met its target.
One more noticeable thing is that static CCI peaks earlier than the price action and although price continues to rise, the CCI drifts lower. Not so with adaptive CCI, its peak corresponds with price peak...more like an oscillator.
Static woodies shows ZLR that did not go very far and adaptive CCI ahows a well formed ghost pattern that met its target.
One more noticeable thing is that static CCI peaks earlier than the price action and although price continues to rise, the CCI drifts lower. Not so with adaptive CCI, its peak corresponds with price peak...more like an oscillator.
Can you share with me that adaptive CCI MT4 Code ?
Thank You,
Thanks For your kind reply.
I have certain doubts in exit strategies in CCI.
I read in Woodies Book that a good exit to be done once wen CCI 14 goes flat or crosses zero line or TLB or like that few are there.
I seen in some of your example trades you holding position though it goes flat.
Would you please explain some exit strategies.
Thank you,
I have certain doubts in exit strategies in CCI.
I read in Woodies Book that a good exit to be done once wen CCI 14 goes flat or crosses zero line or TLB or like that few are there.
I seen in some of your example trades you holding position though it goes flat.
Would you please explain some exit strategies.
Thank you,
If u watch woodies videos posted in this thread, woodies shows all charts with 3 or 5 min charts and without the price bars whether range bars or time bars. He mentions about range bars but in his training videos he uses candelsticks but does not look at them:lol:.
Show us if u r using range bars and how would that make any difference in ur trading decisions using woodies CCI.
Show us if u r using range bars and how would that make any difference in ur trading decisions using woodies CCI.
Thanks For your kind reply.
I have certain doubts in exit strategies in CCI.
I read in Woodies Book that a good exit to be done once wen CCI 14 goes flat or crosses zero line or TLB or like that few are there.
I seen in some of your example trades you holding position though it goes flat.
Would you please explain some exit strategies.
Thank you,
I have certain doubts in exit strategies in CCI.
I read in Woodies Book that a good exit to be done once wen CCI 14 goes flat or crosses zero line or TLB or like that few are there.
I seen in some of your example trades you holding position though it goes flat.
Would you please explain some exit strategies.
Thank you,
Just check the initial 2-3 pages for his all exit strategies.O line is the major support/resistance line so you may hold ur position until CCI crosses o line as in atrending market ZLR or other with trend pattern appears and the trade moves further. CCI going flat for 3-4 bars is an exit signal but its descetionary.
Woodies system on Nifty does give false signals (as does any other system based on indicators) especially in initial 3 hrs till 12 pm. Once europe opens, then Nifty mostly follows the trend in global markets....during this time woodies CCI or for that matter any technical system works well. The only advantage of woodies CCI is it shows trend continuation/ trend exhaustion/ trend reversal signals well and earlier than other indicators.
Hi Friends
Just happened to have come across this thread a couple of days back.
Firstly, a big thank you to kkeskar92 for having started this thread and also to linkon7 for sharing his insights with us all and to NFTRADER for sharing the videos on Woodies CCI.
Did read through all the posts on this read as of now and also managed to view all the videos shared by NFTRADER to begin with.
Would have to go through all the stuff a couple of times more to get a better feel of the trading system designed and recommended by Woodie.
A couple of questions from my end:
1. As the system is recommended for the 3 to 5 minutes RT/Day traders is there any coverage for the swing and positional traders based on EOD data too. Tried to search for the same but did not come accross anything for traders/investors with a higher timeframe i.e. Daily charts.
2. Woodie placed a lot of emphasis on the various paramters other than the patterns itself for instance the color of the bars on the Zero Line the CZI and the SI. So it seems very evident that to trade the Woodies CCI firstly one needs to have the accurate indicators in place.
Also, just identifying a pattern without following the nuances will be a wrong method of trading the Woodies CCI. So where can one find the officially approved indicators for the same - from an Indian Markets perspective.
3. For tf lower than hourly the CCI - 14 and TCCI 6 is recommended and for tf higher than hourly CCI - 20. Do we use TCCI 6 for higher tf too as not read anything about the TCCI for higher tf's.
4. Any recommended sequence for mastering the CCI patterns for a beginner. As, trying to trade and master all the patterns at the same time would be a big mistake for the newbie to Woodies CCI.
5. Which platform having the authorized version of Woodies CCI as well as having data for the Indian markets would you recommend.
I use Amibroker ver 5.20 and have downloaded whatever AFL's that i could get my hands on for the Woodies CCI indicator.
I have observed that each of the afl's have something or the other missing in it also very little stress is placed on the colors of the SI and CZI in most of these AFL's.
Would sincerely appreciate if some more insights are shared on the above points by those who trade with the Woodies CCI AFL's as i believe that without having the proper indicators/templates in place one may not be able to follow all the nuances as is originally recommended by Woodie.
Thanks in advance
God Bless
Regards
Floyd
Just happened to have come across this thread a couple of days back.
Firstly, a big thank you to kkeskar92 for having started this thread and also to linkon7 for sharing his insights with us all and to NFTRADER for sharing the videos on Woodies CCI.
Did read through all the posts on this read as of now and also managed to view all the videos shared by NFTRADER to begin with.
Would have to go through all the stuff a couple of times more to get a better feel of the trading system designed and recommended by Woodie.
A couple of questions from my end:
1. As the system is recommended for the 3 to 5 minutes RT/Day traders is there any coverage for the swing and positional traders based on EOD data too. Tried to search for the same but did not come accross anything for traders/investors with a higher timeframe i.e. Daily charts.
2. Woodie placed a lot of emphasis on the various paramters other than the patterns itself for instance the color of the bars on the Zero Line the CZI and the SI. So it seems very evident that to trade the Woodies CCI firstly one needs to have the accurate indicators in place.
Also, just identifying a pattern without following the nuances will be a wrong method of trading the Woodies CCI. So where can one find the officially approved indicators for the same - from an Indian Markets perspective.
3. For tf lower than hourly the CCI - 14 and TCCI 6 is recommended and for tf higher than hourly CCI - 20. Do we use TCCI 6 for higher tf too as not read anything about the TCCI for higher tf's.
4. Any recommended sequence for mastering the CCI patterns for a beginner. As, trying to trade and master all the patterns at the same time would be a big mistake for the newbie to Woodies CCI.
5. Which platform having the authorized version of Woodies CCI as well as having data for the Indian markets would you recommend.
I use Amibroker ver 5.20 and have downloaded whatever AFL's that i could get my hands on for the Woodies CCI indicator.
I have observed that each of the afl's have something or the other missing in it also very little stress is placed on the colors of the SI and CZI in most of these AFL's.
Would sincerely appreciate if some more insights are shared on the above points by those who trade with the Woodies CCI AFL's as i believe that without having the proper indicators/templates in place one may not be able to follow all the nuances as is originally recommended by Woodie.
Thanks in advance
God Bless
Regards
Floyd
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